Blink Charging Co. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Blink Charging Co. filed its Q1 2024 10-Q report on May 10, 2024, detailing financial performance and corporate information.</b>

AI Summary

Blink Charging Co. (BLNK) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Blink Charging Co. reported its Q1 2024 financial results on May 10, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's previous name was Car Charging Group, Inc., with a name change on December 7, 2009. Blink Charging Co. is incorporated in Nevada with its fiscal year ending on December 31. The company's business and mailing address is located at 407 Lincoln Road, Suite 704, Miami Beach, FL 33139.

Why It Matters

For investors and stakeholders tracking Blink Charging Co., this filing contains several important signals. This filing provides investors with the latest quarterly financial data, crucial for assessing the company's performance and making investment decisions. Understanding the company's historical name changes and incorporation details offers context on its corporate evolution and structure.

Risk Assessment

Risk Level: medium — Blink Charging Co. shows moderate risk based on this filing. The company's financial performance and growth trajectory are subject to market adoption of EV charging infrastructure and competitive pressures, which are not detailed in this specific filing but are inherent to the industry.

Analyst Insight

Monitor future filings for specific revenue figures, profitability, and debt levels to assess the company's financial health and growth prospects.

Key Numbers

• 2024-03-31 — Conformed Period of Report (Quarterly report period)
• 2024-05-10 — Filed As Of Date (Date of filing)
• 2024-01-01 — Reporting Period Start Date (Q1 2024)
• 2023-12-31 — Fiscal Year End (Annual fiscal year end)

Key Players & Entities

• Blink Charging Co. (company) — Filer
• Car Charging Group, Inc. (company) — Former company name
• NEW IMAGE CONCEPTS, INC (company) — Former company name
• NV (company) — State of incorporation
• Miami Beach (company) — Business address city
• FL (company) — Business address state

FAQ

Industry Context

Blink Charging Co. operates in the electric vehicle (EV) charging infrastructure industry, a sector experiencing rapid growth driven by increasing EV adoption.

Regulatory Implications

As a publicly traded company, Blink Charging Co. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the full 10-Q filing for detailed financial statements, including revenue, expenses, and cash flow.
2. Review management's discussion and analysis (MD&A) for insights into operational performance and future outlook.
3. Compare Q1 2024 results with previous quarters and the same period in the prior year to identify trends.

Key Dates

• 2024-03-31: End of Reporting Period — Q1 2024 financial data
• 2024-05-10: Filing Date — 10-Q submission

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with an update on the company's financial performance during the quarter.)

Year-Over-Year Comparison

This filing represents the first quarterly report for the fiscal year 2024, providing an update on the company's financial position and operations compared to the end of the previous fiscal year and the prior year's first quarter.

Filing Documents

• form10-q.htm (10-Q) — 888KB
• ex31-1.htm (EX-31.1) — 19KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 9KB
• ex32-2.htm (EX-32.2) — 9KB
• 0001493152-24-018649.txt (&nbsp;) — 4658KB
• blnk-20240331.xsd (EX-101.SCH) — 37KB
• blnk-20240331_cal.xml (EX-101.CAL) — 52KB
• blnk-20240331_def.xml (EX-101.DEF) — 120KB
• blnk-20240331_lab.xml (EX-101.LAB) — 306KB
• blnk-20240331_pre.xml (EX-101.PRE) — 219KB
• form10-q_htm.xml (XML) — 705KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

Financial Statements

Item 1. Financial Statements. 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 3 Unaudited Condensed Consolidated Statement of Changes in Stockholders' Equity for the Three Months Ended March 31, 2024 4 Unaudited Condensed Consolidated Statement of Changes in Stockholders' Equity for the Three Months Ended March 31, 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Unaudited Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 25

Controls and Procedures

Item 4. Controls and Procedures. 25

- OTHER INFORMATION

PART II - OTHER INFORMATION 26

Legal Proceedings

Item 1. Legal Proceedings. 26

Risk Factors

Item 1A. Risk Factors. 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 26

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 26

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 26

Other Information

Item 5. Other Information. 26

Exhibits

Item 6. Exhibits. 27

SIGNATURES

SIGNATURES 28 PART 1 – FINANCIAL INFORMATION ITEM 1. FINANCIAL BLINK CHARGING CO. Condensed Consolidated Balance Sheets (in thousands, except for share amounts) March 31, December 31, 2024 2023 (unaudited) Assets Current Assets: Cash and cash equivalents $ 93,458 $ 121,691 Accounts receivable, net 53,608 45,447 Inventory, net 44,679 47,942 Prepaid expenses and other current assets 5,990 6,654 Total Current Assets 197,735 221,734 Restricted cash 77 79 Property and equipment, net 37,205 35,127 Operating lease right-of-use asset 9,616 9,731 Intangible assets, net 13,857 16,298 Goodwill 144,881 144,881 Other assets 1,124 669 Total Assets $ 404,495 $ 428,519 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $ 26,300 $ 31,193 Accrued expenses and other current liabilities 15,477 14,143 Notes payable 6,792 6,792 Current portion of operating lease liabilities 3,794 3,448 Current portion of financing lease liabilities 436 512 Current portion of deferred revenue 14,430 13,613 Total Current Liabilities 67,229 69,701 Consideration payable 19,818 49,434 Operating lease liabilities, non-current portion 6,714 7,025 Financing lease liabilities, non-current portion 123 163 Other liabilities 337 337 Deferred revenue, non-current portion 13,536 12,462 Total Liabilities 107,757 139,122 Commitments and contingencies (Note 8) - - Stockholders' Equity: Common stock, $ 0.001 par value, 500,000,000 shares authorized, 100,996,579 and 92,818,233 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 101 93 Additional paid-in capital 855,306 829,563 Accumulated other comprehensive loss ( 3,773 ) ( 2,536 ) Accumulated deficit ( 554,896 ) ( 537,723 ) Total Stockholders' Equity 296,738 289,397 Total Liabilities and Stockholders' Equity $ 404,495 $ 428,519 The accompanying

View Full Filing

View this 10-Q filing on SEC EDGAR